Kodal Minerals (LON:KOD) Stock Crosses Below 200-Day Moving Average – What’s Next?

Kodal Minerals PLC (LON:KOD) shares passed below its 200-day moving average during trading on Thursday . The stock has a 200-day moving average of GBX 0.40 ($0.01) and traded as low as GBX 0.38 ($0.00). Kodal Minerals shares last traded at GBX 0.39 ($0.01), with a volume of 31,303,191 shares changing hands.

Analysts Set New Price Targets

Separately, Canaccord Genuity Group reiterated a “speculative buy” rating and set a GBX 1 ($0.01) price objective on shares of Kodal Minerals in a research report on Tuesday, February 11th.

Kodal Minerals Stock Performance

The company has a market cap of £78.04 million, a price-to-earnings ratio of 2,974.63 and a beta of 0.51. The company has a fifty day moving average of GBX 0.39 and a two-hundred day moving average of GBX 0.40.

Kodal Minerals Company Profile

Kodal Minerals was established and listed on London’s AIM market in 2013, acquiring its flagship asset, Bougouni Lithium Project, in 2016. Kodal Minerals is aiming to be the first West African producer of lithium spodumene and become a significant player in critical minerals production to help drive the global green energy transition.

The Bougouni Lithium Project is located in Southern Mali, 170km south of the capital Bamako in the highly prospective and attractive destination for lithium exploration and development.